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....The long-serving chief executive of the UK’s biggest power station is stepping down, as the North Yorkshire-based business continues its pursuit of a future beyond coal. Drax Group’s Dorothy Thompson will be succeeded by Will Gardiner, currently the chief financial officer, who will take over in January at a time when the company is eyeing a mix of gas, biomass and battery power to replace coal. ...
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....The long-serving chief executive of the UK’s biggest power station is stepping down, as the North Yorkshire-based business continues its pursuit of a future beyond coal. Drax Group’s Dorothy Thompson will be succeeded by Will Gardiner, currently the chief financial officer, who will take over in January at a time when the company is eyeing a mix of gas, biomass and battery power to replace coal. ...

....He added that last year’s 66% fall in coal generation marked the largest annual switch in fuel for power – even greater than the 33% decline in coal power during the 1984 miners’ strike. After the closures last year, there are now eight coal power stations left in the UK, from Drax and Eggborough in Yorkshire to Aberthaw in south Wales. ...

....The operator of the UK’s largest power station has seen its share price slide after it posted a pre-tax loss of £83m in the first half of the year despite increasing earnings by 73%. Drax Group, which runs a coal and biomass plant in North Yorkshire, boosted its earnings to £121m from £70m last year, due to its acquisition of the business energy supplier Opus Energy. ...

....In the UK, wind, nuclear and solar power were together generating more electricity than gas and coal combined at 1pm on Wednesday, for the first time ever. Including hydropower and biomass burned at power stations such as Drax in North Yorkshire, renewables provided 50. ...

.... Tyrie could do us all a favour by insisting on clarity. It is only a slight exaggeration to say that Drax Group had bet the farm on winning EU state-aid approval to convert a third coal-burning unit to run on wood pellets. ...

.... Well played, Andrew Bailey, new boss at the FCA, for arriving at the obvious conclusion that escaped his predecessors. You know Drax: it’s the company that burns coal in a large power station in North Yorkshire while getting with the low carbon programme by converting to biomass. ...

.... An early-day motion secured more signatures, and opposition to the sale gained the backing of more than 100 MPs from eight political parties. Speakers at Thursday’s debate will include the Conservative MPs Richard Drax and John Stevenson. ...

.... An early-day motion secured more signatures, and opposition to the sale gained the backing of more than 100 MPs from eight political parties. Speakers at Thursday’s debate will include the Conservative MPs Richard Drax and John Stevenson. ...

....Financial institutions are shifting away from fossil fuel investments as the Bank of England, the World Bank and others warn that action to cut carbon emissions could leave coal, oil and gas assets stranded. On Friday, the world’s biggest sovereign wealth fund, held by Norway, dumped 52 coal companies including the UK firm Drax. ...

....Farmer Rob Pickering last week planted nine hectares of flood-prone land in Lincolnshire with an African plant called miscanthus, or elephant grass. By selling the fast-growing crop as biofuel for Drax power station, he should earn as much as he would from selling wheat on the world market. ...

....Renewable electricity generation surged in 2015, rising by 29%, allowing it to claim a record 25% share of all electricity. Most of this came from wind power and bioenergy, the latter being boosted by the continued conversion of Drax - once the UK’s biggest coal plant - to burning wood pellets. ...

....No decisions have been taken on the future of the site, but Scottish Power expects to outline its plans before the end of the year. Longannet is the largest coal-fired plant in Britain as rival Drax is firing as much wood as coal these days. ...

....Related: Goodbye to Cockenzie power station, a cathedral to coal. It continued: “Beyond the five power stations under threat, there are five more coal-fired power stations left on the grid – Aberthaw, Cottam, Drax, Ratcliffe and West Burton. ...

....Shell was developing a trial scheme at Peterhead in Scotland alongside one of the big six energy suppliers and power station owner SSE. A separate White Rose project was being developed by Drax at its coal-fired plant in Selby, North Yorkshire. ...

....----------------------------------. THE European Commission has opened a probe into whether the UK’s plans to support the conversion of a Drax plant from coal to biomass breaches state aid rules. ...

. Drax's hopes of securing lucrative subsidies for its biomass conservion have suffered a setback after the European Commission launched a full state aid investigation over concerns the payments may be too generous. ...

....”. If you believe in keeping fossil fuels in the ground, you should be pleased, in theory; except that the power plant at Drax in nearby Selby will continue to burn coal – four million tons a year – which it has imported from America and Colombia. ...

.... . The investment bank removed Drax from its “sell list”, and hiked its rating by two notches to “buy”, citing its risk-reward ratio as skewed to the upside following a period of “material underperformance”. ...

....No one denies British coal is expensive. Labour costs, safety standards, and issues with this mine including the three hours a day miners spend travelling underground, are among the reasons – and a contract with Drax power station is the only reason Kellingley can sell what it currently produces. ...

....” . Drax, the Yorkshire-based coal and biomass generator, fared worse on Wednesday following the announcement of plans to phase out unabated coal by 2025 and no mention of biomass in Ms Rudd's speech. ...

....“From the looks of the data we’re seeing … there’s an economic opportunity, there’s a market, so the corporate response can be quite rapid compared with any safeguarding mechanisms already in place,” he said. Pellet manufacturer Enviva and British utility Drax Power are leaders in the region’s expanding biomass industry. ...

.... The environmental writer Chris Goodall has done the sums and heats his home using wood pellets – similar to briquettes – made from UK wood. The Drax coal power station burns pellets shipped from the US on the basis that the carbon savings are more than 80% once the life cycle of the trees are taken into account. ...

.... . Britain’s ambitions in “carbon capture and storage” suffered a setback last week after Drax, operator of the biggest coal-fired power station in the UK, announced it was pulling out of the competition for a £900m pot of government money to encourage development. ...

.... Volkswagen now admits there are 11m cars worldwide fitted with its defeat devices. The numbers could mean that VW’s diesels have pumped out as much as 900,000 tonnes of extra NOx emissions a year – about 25 times more than the UK’s controversial Drax power station – with huge implications for public health. ...

....An ambitious plan to build a £1bn prototype plant to capture carbon from a coal-fired power station in North Yorkshire is under threat after a key shareholder pulled out. Drax, owner of the country’s biggest single power station, blamed cuts in renewable energy subsidies by ministers for the decision to abandon the White Rose carbon capture and storage (CCS) scheme, triggering a claim that the government energy strategy is “unravelling”. ...

.... Scaled to the 11m global vehicles, that would mean up to 948,691 tonnes of NOx emissions annually. Western Europe’s biggest power station, Drax in the UK, emits 39,000 tonnes of NOx each year. ...

.... If that proves correct, VW’s defective vehicles could be responsible for between 237,161 and 948,691 tonnes of NOx emissions each year, 10 to 40 times the pollution standard for new models in the US. Western Europe’s biggest power station, Drax in the UK, emits 39,000 tonnes of NOx each year. ...

.... Offshore windfarms with the capacity to produce more than 5 gigawatts have been brought on stream so far in the UK but Germany is also working hard on offshore wind. High-profile Conservative politicians such as the business secretary, Sajid Javid, have spoken against it, though, and the South Dorset MP, Richard Drax, said it would “desecrate” the Jurassic Coast, named after the many fossils that have been found there. ...

....” . Separately on Wednesday, Drax and Infinis Energy announced they had initiated judicial review proceedings against the Treasury over its decision to end a system of lucrative subsidy payments to renewable energy firms. ...

.... It gave the energy companies affected only 24 days’ notice. Drax, the owner of another large, partly coal-fired power station in North Yorkshire, and the renewable power firm Infinis are seeking a judicial review of the CCL decision unveiled in George Osborne’s July statement. ...

.... Elster is departing at 14 times last year’s earnings, which is a fine price only from the seller’s point of view. Three weeks after George Osborne’s budget, Drax chief executive Dorothy Thompson remains shocked. ...

. Britain’s fleet of wind and solar farms will fail to supply even 1pc of the UK’s power needs “with reasonable regularity”, Drax has claimed, as it argued biomass should be “central” to the UK’s energy mix. ...

....Britain's DECC also said on Wednesday it would no longer guarantee subsidies offered for biomass conversion projects. The decision sent shares in power company Drax, which is in the process of converting its coal plants to using biomass, down around 2 percent in early trading but they have since recovered. ...

....In the world of renewable energy, they are still reeling from the budget shocker – the removal of the climate change levy exemption, a source of revenue that had seemed secure for at least another half-decade. To see the value of these exception certificates, look at the effect on the share price of Drax, which qualified by virtue of converting two of its six units to burn biomass rather than coal: down 28% on the day, followed by a rebound of only 7% on Thursday. ...

....RenewableUK, the lobby group, said the changes would cost green energy producers around £450m in the current financial year, and up to £1bn by 2020-2021. The move hammered the share price of power generator Drax which is in the process of converting stations from burning coal to burning wood pellets. ...

.... . In fact, whether it be private equity managers who are now facing an attack on the way they claim for capital gains on profits in the funds which they manage, or investors in Drax and other businesses focused on green energy, there was little to smile about in this Budget when it came to business measures. ...

.... . The energy company Drax was among the handful of companies issuing financial updates on Monday, although the figures did little to shift perceptions that the market for electricity remains tough. ...

.... We have continued to build exposure to several core holdings, focusing particularly on those that have displayed periodic share price weakness. This includes GlaxoSmithKline, Drax and Rolls-Royce. ...